Old Dominion Electric Cooperative

Organization Overview

Old Dominion Electric Cooperative is located in Glen Allen, VA. The organization was established in 1971. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Old Dominion Electric Cooperative employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Dominion Electric Cooperative is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.

For the year ending 12/2021, Old Dominion Electric Cooperative generated $801.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $796.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2020, Old Dominion Electric Cooperative has awarded 23 individual grants totaling $236,750. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE WHOLESALE POWER TO MEMBER COOPERATIVES

Describe the Organization's Program Activity:

Part 3 - Line 4a

OLD DOMINION IS A NOT-FOR-PROFIT WHOLESALE POWER SUPPLY COOPERATIVE ENGAGED IN THE BUSINESS OF PROVIDING WHOLESALE ELECTRIC SERVICE TO ITS MEMBER COOPERATIVES.


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Board, Officers & Key Employees

Name (title)Compensation
Marcus M Harris
President & CEO
$801,739
Dale R Beam
Sr. VP Power Supply
$765,704
Kirk D Johnson
Sr. VP Of Member Engagemen
$339,954
Bryan S Rogers
Sr. VP & CFO
$332,904
Michael L Hearn
General Counsel
$317,397
Peter F Gallini
VP Power Supply
$248,294

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Aces Power Marketing
Energy Management
$2,149,797
General Electric International
Mechanical Contractor
$2,034,409
M Davis & Sons Inc
Mechanical Contractor
$828,159
Richardson-wayland Electrical Co
Electrical Contractor
$414,953
Thompson Coburn Llp
Legal Services
$744,727
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$780,639,871
Investment income $20,173,526
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $5,470
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $801,442,287

Grants Awarded

Over the last fiscal year, Old Dominion Electric Cooperative has awarded $112,250 in support to 12 organizations.

Grant RecipientAmount

BOYS & GIRLS CLUB OF CECIL COUNTY

Org PageRecipient Profile

Aberdeen, MD

PURPOSE: GENERAL SUPPORT

$22,500

GLOBAL EDUCATION ENERGY ENVIRONMENT

Org PageRecipient Profile

Lk Frederick, VA

PURPOSE: GENERAL SUPPORT

$12,000

VIRGINIA COLLEGE FUND

Org PageRecipient Profile

Richmond, VA

PURPOSE: GENERAL SUPPORT

$10,000

SOUTHERN VIRGINIA HIGHER EDUCATION FOUNDATION

Org PageRecipient Profile

South Boston, VA

PURPOSE: SCHOLARSHIPS AND SPONSORSHIP

$10,000

FAIR HILL ENVIRONMENTAL FOUNDATION

Org PageRecipient Profile

Elkton, MD

PURPOSE: CCPS ANN PROGRAM DEFICIENCY

$10,000

LOUISA COUNTY HIGH SCHOOL

PURPOSE: SCHOLARSHIPS & EQUPMENT

$8,250
View Grant Profile

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